The consumption of liquefied petroleum gases (LPG) in Germany's transport equipment sector showed notable fluctuations between 2013 and 2023. In 2023, the LPG consumption stood at 4.01 thousand tonnes of oil equivalent. Over the last two years, the sector saw a modest decline with year-on-year variations of -1.41% in 2022 and -1.16% in 2023. The compound annual growth rate (CAGR) for the past five years was relatively low at 5.38%, reflecting moderate growth despite brief spikes in 2019 and 2020. Future forecasts predict a slight downtrend in LPG consumption with a forecasted 5-year CAGR of -0.45%, leading to a projected consumption of 3.89 thousand tonnes of oil equivalent by 2028.
Future trends to watch for:
- Technological advances in transportation equipment that might reduce LPG consumption.
- Policy changes aimed at reducing carbon emissions, influencing the shift towards alternative fuels.
- Economic factors and energy prices that could impact the viability of LPG as a fuel source.
